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Multifamily

2346 West McLean Avenue

2346 W McLean Ave, Chicago, IL 60647

Listing Price: $1,600,000

Cap Rate
6.17%
Number of Units
7
GRM
10.79
Price/Unit
$228,571
Price/Gross SF
$302.00
Gross SF
5,298

Investment Overview

OVERVIEW
2346 West McLean Avenue is a well-located multifamily asset in the heart of Chicago’s Bucktown neighborhood, close to the action along Milwaukee Avenue. The property also sits near the Logan Square and Wicker Park borders, giving residents easy access to all three neighborhoods’ shopping, dining, and entertainment options, along with a short walk to the Blue Line.
The asset comprises seven multifamily units totaling approximately 4,607 rentable square feet (5,298 gross building area). The unit mix spans studio, one-bedroom, and two-bedroom layouts, giving ownership a diversified income stream across a range of renter household types.
Unit Mix The residential component features a varied mix tailored to a broad range of renters:
• ONE STUDIO UNIT
• FIVE ONE-BEDROOM / ONE-BATHROOM UNITS
• ONE TWO-BEDROOM / ONE-BATHROOM UNIT
NEIGHBORHOOD & LIFESTYLE APPEAL Bucktown is one of Chicago’s most desirable North Side neighborhoods, known for its historic greystones, boutique retail, and acclaimed dining and nightlife along Damen, North, and Milwaukee Avenues. Its proximity to the Logan Square and Wicker Park borders further broadens the property’s appeal, giving residents convenient access to additional dining, park boulevards, and creative energy just outside the neighborhood’s edge. Strong walkability and reliable Blue Line access support steady renter demand from a wide cross-section of Chicago’s North Side workforce.
INVESTMENT RATIONALE 2346 West McLean offers investors a diversified multifamily asset in one of Chicago’s most established and in-demand North Side neighborhoods. The property’s varied unit mix broadens its renter base, while its Bucktown location on the doorstep of Logan Square and Wicker Park supports strong, consistent demand and a durable, long-term ownership thesis in a supply-constrained submarket. This transit-connected setting and limited competing new supply support a stable, long-term ownership thesis in one of Chicago’s most resilient North Side rental submarkets.

Investment Highlights

  • Prime Bucktown Location
  • Value-Add Potential through Rental Increases and Management Efficiency
  • Durable Rental Demand and Limited New Supply

Exclusively Listed By

  • Kyle Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

Multifamily

2346 West McLean Avenue

Listing Price: $1,600,000

Cap Rate
6.17%
Number of Units
7
GRM
10.79
Price/Unit
$228,571
Price/Gross SF
$302.00
Gross SF
5,298

Investment Highlights

  • Prime Bucktown Location
  • Value-Add Potential through Rental Increases and Management Efficiency
  • Durable Rental Demand and Limited New Supply

Investment Overview

OVERVIEW 2346 West McLean Avenue is a well-located multifamily asset in the heart of Chicago’s Bucktown neighborhood, close to the action along Milwaukee Avenue. The property also sits near the Logan Square and Wicker Park borders, giving residents easy access to all three neighborhoods’ shopping, dining, and entertainment options, along with a short walk to the Blue Line. The asset comprises seven multifamily units totaling approximately 4,607 rentable square feet (5,298 gross building area). The unit mix spans studio, one-bedroom, and two-bedroom layouts, giving ownership a diversified income stream across a range of renter household types. Unit Mix The residential component features a varied mix tailored to a broad range of renters: • ONE STUDIO UNIT • FIVE ONE-BEDROOM / ONE-BATHROOM UNITS • ONE TWO-BEDROOM / ONE-BATHROOM UNIT NEIGHBORHOOD & LIFESTYLE APPEAL Bucktown is one of Chicago’s most desirable North Side neighborhoods, known for its historic greystones, boutique retail, and acclaimed dining and nightlife along Damen, North, and Milwaukee Avenues. Its proximity to the Logan Square and Wicker Park borders further broadens the property’s appeal, giving residents convenient access to additional dining, park boulevards, and creative energy just outside the neighborhood’s edge. Strong walkability and reliable Blue Line access support steady renter demand from a wide cross-section of Chicago’s North Side workforce. INVESTMENT RATIONALE 2346 West McLean offers investors a diversified multifamily asset in one of Chicago’s most established and in-demand North Side neighborhoods. The property’s varied unit mix broadens its renter base, while its Bucktown location on the doorstep of Logan Square and Wicker Park supports strong, consistent demand and a durable, long-term ownership thesis in a supply-constrained submarket. This transit-connected setting and limited competing new supply support a stable, long-term ownership thesis in one of Chicago’s most resilient North Side rental submarkets.

Exclusively Listed By

  • Kyle Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

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